Arcturus Therapeutics Holdings Inc. ARCT

Healthcare SIC 2834 - Pharmaceutical Preparations NAICS Manufacturing › Chemical Manufacturing › Pharmaceutical and Medicine Manufacturing › Pharmaceutical Preparation Manufacturing derived Nasdaq

We are a messenger RNA medicines company focused on the development of liver and respiratory rare disease therapeutics. We have ongoing Phase 2 clinical studies for our RNA therapeutic candidates to potentially treat ornithine transcarbamylase (OTC) deficiency and cystic fibrosis (CF).

We developed the world's first approved self-amplifying messenger RNA (sa-mRNA) vaccine, KOSTAIVE® ("KOSTAIVE"), which we have partnered with Seqirus, Inc. ("CSL Seqirus"), a part of CSL Limited. KOSTAIVE has achieved approval in Japan, the European Union and the United Kingdom as a vaccine against COVID-19, and sales of KOSTAIVE began in Japan in October 2024.

We have several key platform technologies that we leverage to develop and advance a pipeline of mRNA-based therapeutics for rare genetic disorders with significant unmet medical needs and vaccines for infectious diseases. Current mRNA medicines have two critical components: the messenger RNA ("mRNA") constructs and the lipid nanoparticles ("LNP") which help deliver the mRNA to disease-relevant target tissues. We have extensive expertise in the design and optimization of mRNA constructs, including with respect to a type of mRNA technology known as self-amplifying mRNA (sa-mRNA). Our proprietary self-amplifying mRNA technology platform, or STARR® ("STARR"), has been demonstrated to induce a robust, longer-lasting and broader humoral immune response at lower dose levels than conventional mRNA-based vaccines. Our proprietary LNP delivery system, LUNAR® ("LUNAR"), is intended to address the major hurdle in RNA drug development, namely the effective and safe delivery of RNA to disease-relevant target tissues. LUNAR may enable multiple nucleic acid medicines. We also have significant expertise and valuable know-how in the development and scalability of complex and robust manufacturing processes required to deliver the next generation of nucleic acid medicines.

Last close 9.84 2026-10-23
Market cap $279.7M 2026-06-30 share count
52-week range 5.50 - 17.96

Valuation FY2025 figures against the last close

P/S3.4x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-2.40

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Revenue $82.0M$152.3M$166.8M$206.0M$12.4M$9.5M$20.8M$15.8M—
R&D $112.2M$195.2M$192.1M$147.8M$173.8M$57.8M$33.6M$17.0M—
SG&A $46.1M$52.8M$52.9M$46.1M$41.5M$23.2M$12.7M$20.6M—
Total operating expenses $158.3M$248.0M$245.0M$193.8M$215.2M$81.1M$46.3M$37.6M—
Operating income -$76.3M-$95.7M-$78.2M$12.2M-$202.9M-$71.5M-$25.5M-$21.8M—
Pre-tax income -$65.8M-$80.9M-$27.9M$10.6M-$203.7M-$72.1M-$26.0M-$21.8M—
Income tax —$4.0K$1.8M$1.3M—————
Net income -$65.8M-$80.9M-$29.7M$9.3M-$203.7M-$72.1M-$26.0M-$21.8M—
EPS, basic -2.40-3.00-1.120.35-7.74————
EPS, diluted -2.40-3.00-1.120.35-7.74-3.55-2.15-2.16—
Shares, diluted (wtd. avg.) 27.4M27.0M26.6M27.1M26.3M————

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Cash and equivalents $230.9M$237.0M$292.0M$394.0M$372.6M$463.0M$71.4M$36.8M$25.2M
Receivables $5.6M$4.0M$32.1M$2.8M$3.4M$2.1M$2.2M$4.5M—
Total current assets $241.4M$306.0M$386.6M$403.3M$379.0M$467.8M$74.3M$41.8M—
Property, plant and equipment $6.7M$9.5M$12.4M$12.4M$5.6M$3.4M$2.3M$2.0M—
Total assets $271.1M$344.1M$429.4M$450.4M$392.8M$476.5M$82.1M$44.2M—
Accounts payable $4.2M$7.2M$5.3M$7.4M$10.1M$10.8M$5.8M$2.4M—
Short-term debt ———$60.7M$22.5M$1.2M———
Total current liabilities $36.4M$65.5M$82.0M$127.0M$99.5M$49.5M$21.3M$12.6M—
Long-term debt ————$40.6M$13.8M$15.0M$9.9M—
Total liabilities $57.2M$103.1M$150.9M$180.1M$164.6M$79.9M$56.4M$30.6M—
Retained earnings -$514.6M-$448.8M-$367.9M-$338.1M-$347.5M-$143.8M-$71.7M-$44.9M—
Total equity $214.0M$241.0M$278.5M$270.3M$228.2M$396.6M$25.8M$13.6M$33.8M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Operating cash flow -$74.3M-$59.7M-$18.1M$32.0M-$135.0M-$42.9M-$6.4M-$20.8M—
Stock-based compensation $25.4M$38.0M$34.6M$30.6M$28.9M$6.8M$2.0M$1.3M—
Capital expenditure $230.0K$648.0K$2.9M$7.7M$3.4M$1.7M$818.0K$1.5M—
Investing cash flow -$230.0K-$648.0K-$2.9M-$7.7M-$3.4M-$1.7M-$818.0K$22.1M—
Financing cash flow $13.4M$5.4M-$24.1M-$2.9M$48.0M$436.1M$41.9M$10.2M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-088391.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -400M -200M 0 200M 400M Revenue, FY2018: 15.8M Net income, FY2018: -21.8M Revenue, FY2019: 20.8M Net income, FY2019: -26M Revenue, FY2020: 9.5M Net income, FY2020: -72.1M Revenue, FY2021: 12.4M Net income, FY2021: -203.7M Revenue, FY2022: 206M Net income, FY2022: 9.3M Revenue, FY2023: 166.8M Net income, FY2023: -29.7M Revenue, FY2024: 152.3M Net income, FY2024: -80.9M Revenue, FY2025: 82M Net income, FY2025: -65.8M FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $15.8M $20.8M $9.5M $12.4M $206.0M $166.8M $152.3M $82.0M
Gross profit — — — — — — — — —
Net income — -$21.8M -$26.0M -$72.1M -$203.7M $9.3M -$29.7M -$80.9M -$65.8M

Recent filings and events

  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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